Insider Trading Regulation: Shaping Future Paths for Securities Fraud Prevention.
The article argues that understanding how laws on insider trading came to be can help us figure out how to regulate it in the future. It suggests that insider trading is more like a problem for state corporate law than federal securities law. Even though it might be too late to change course, the article proposes keeping the current rules in place as a type of federal common law. This approach considers different concerns and the history of the rules on insider trading.